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medicare and medicaid, massive problem down the road. that's where -- that's going to be what our children have to worry about. now, paul's approach -- i want to be careful not simplifying this, because i know you've got a lot of detail in your plan. but if i understand it correctly, would say we're going to provide vouchers of some sort for current medicare recipients at the current level. >> no. >> no? >> 55 and above. >> no, i understand. i mean, there's a grandfathering in, but for future beneficiaries, right? that's why i said i didn't want to -- i want to make sure that i'm not being unfair to your proposal, but i want to point out that i've read it, and the basic idea would be that at some point, we hold medicare costs per recipient constant as a way of making sure that that doesn't go way out of whack. and i'm sure there's some details that -- >> inflation and health inflation, the point of our plan -- medicare is a $38 trillion liability. it has to be reformed for younger generations because it won't exist because it's going ban
medicare and medicaid, massive problem down the road. that's where -- that's going to be what our children have to worry about. now, paul's approach -- i want to be careful not simplifying this, because i know you've got a lot of detail in your plan. but if i understand it correctly, would say we're going to provide vouchers of some sort for current medicare recipients at the current level. >> no. >> no? >> 55 and above. >> no, i understand. i mean, there's a...
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liberty takes care of all the paperwork with medicare and sends the prescription forms directly to your doctor for approval. then, on your schedule, packs up this box and sends it right to your door with no charge for shipping. and liberty assures you have everything you need to manage your diabetes, including most brand name meters. call now and we'll send you a free meter. plus, a free cookbook when you join. call liberty. they can help you live a better life. call the number on your screen. >>> i'm julia with cnbc market wrap. dow down 62 points, s&p down 11 and nasdaq 36. freddie mac averaged 4.9%, slightly down from last week. >>> skyrocketed a.m.son profits the fourth quarter. jumped 71% to $384 millimeter. microsoft profits surged 60% in the fourth quarter drivenly sales of the october release of the new operating system windows 7. microsoft profits soared to $6.7 billion. that's it from cnbc first in business worldwide. back to msnbc. >> welcome back, everybody. i'm david shuster live in new york. james o'keefe one of the republican activists arrested this week for allegedly ent
liberty takes care of all the paperwork with medicare and sends the prescription forms directly to your doctor for approval. then, on your schedule, packs up this box and sends it right to your door with no charge for shipping. and liberty assures you have everything you need to manage your diabetes, including most brand name meters. call now and we'll send you a free meter. plus, a free cookbook when you join. call liberty. they can help you live a better life. call the number on your screen....
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we're going to lower the cost of medicare and medicaid, and it won't cost anybody anything. that is great politics. it's just not true. >> was the president right, there's no free lunch in health care? >> well, look, of course, there are all kinds of choices to be made in the development of public policy. but i think i remember that moment, i was a few feet away from the president at the time, i think he was talking to congressman tom price, he alluded to our solutions, our better solutions handbook that we handed out today available at gop.gov if you want to look through it, and i think he thought our proposals were just the summary references on the page of the better solutions book. and tom price of georgia and myself went on to say, no, we have substantive, detailed bills that were filed in the congress, that were summarily excluded from consideration by your party on capitol hill. and the president, from where i'm sitting, acknowledged that. he said he had made the hard choices. we made the hard choices, too. you can look them up in our legislation. you know, all we've
we're going to lower the cost of medicare and medicaid, and it won't cost anybody anything. that is great politics. it's just not true. >> was the president right, there's no free lunch in health care? >> well, look, of course, there are all kinds of choices to be made in the development of public policy. but i think i remember that moment, i was a few feet away from the president at the time, i think he was talking to congressman tom price, he alluded to our solutions, our better...
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do you believe medicare and social security and medicaid is socialism? i think these questions need to be driven to them. it needs to be put to them. then as we move toward the general elections -- that's in a primary contest. i'd get those candidates out there now defining these people as to where they stand. and then secondly, in the general election, i think that driving these substantive issues, as we create jobs -- and even there, you know, i want to see republicans, what they're going to say when it comes time to cast a vote to create jobs in america. you know, when we have an emergency in this country like flood -- flooding or hurricane disasters, we consider a disaster when 15 million american bread winners don't have a job, i consider that a disaster, one that has to be responded to by the federal government. let them choose on whose side are they on. trying to get families back to work in america or taking care of big business? that's going to be an interesting choice. >> democratic senator robert menendez of new jersey, chairman of the democra
do you believe medicare and social security and medicaid is socialism? i think these questions need to be driven to them. it needs to be put to them. then as we move toward the general elections -- that's in a primary contest. i'd get those candidates out there now defining these people as to where they stand. and then secondly, in the general election, i think that driving these substantive issues, as we create jobs -- and even there, you know, i want to see republicans, what they're going to...
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the life of medicare. medicare is going into bankruptcy, but it would extend the life of it. that's an honest and correct score. the congressional budget office utilizes what it calls the unified budget. they scored the whole budget as to how it comes out, and the amount of money is increased to the government through medicare, and they score that as a gain, and then since the health care bill didn't take effect until -- benefits of it until four to five years later, that over ten years it would create a surplus of $132 billion. sound good? well, but i read the small print of the c.b.o. letter and the small print of the medicare letter, and the medicare man hold us, the chief actuary, that if you raise taxes and you cut spending in medicare, it will extend the life of medicare. we had a parenthetical line in there. he said, of course, you can't simultaneously use the medicare savings to fund a new program and claim it does both. you would be spending the money twice. how logical is that, but that's what th
the life of medicare. medicare is going into bankruptcy, but it would extend the life of it. that's an honest and correct score. the congressional budget office utilizes what it calls the unified budget. they scored the whole budget as to how it comes out, and the amount of money is increased to the government through medicare, and they score that as a gain, and then since the health care bill didn't take effect until -- benefits of it until four to five years later, that over ten years it...
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medicare and medicaid are a massive problem down the road. that is going to be what our children have to worry about. paul's approach, i want to be careful to not simplify this because i know you have a lot of detail in your plan, but i understand it to say that we will provide doctors of some sort for current medicare recipients at the current level. 55 and over. there is a grandfathering in for future beneficiaries. i just want to point out that i have read it. the basic idea is that at some point, we hold medicare costs per recipient constant as a way of making sure that it does not go way out of black. i am sure there are some details -- we hold medicare costs per recipient constant as a way of making sure that it does not have things going out of wahack. it has to be reformed for the younger generations because it is going bankrupt. why not give people the same health care plan we have in congress? that is the kind of proposal of reform for medicare -- [applause] >> as i have said before, this is an entirely legitimate proposal. the prob
medicare and medicaid are a massive problem down the road. that is going to be what our children have to worry about. paul's approach, i want to be careful to not simplify this because i know you have a lot of detail in your plan, but i understand it to say that we will provide doctors of some sort for current medicare recipients at the current level. 55 and over. there is a grandfathering in for future beneficiaries. i just want to point out that i have read it. the basic idea is that at some...
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if those dollars were used which were saved for medicare to shore up medicare and in some manner manner, in a medicare reserve fund to pay down debt, could you give us a thumbnail estimate how much that might help correct the structural problems that we have? >> i cannot do quantitative acquisition in my head by you're watching is correct that we estimated almost 500 billion in medicare savings over the 10 year projection point*. and over time if they not separately quantify. >> let me combine a question come if you did not use it to expand the government but instead to shore up the medicare system by reducing fed debt wouldn't that have a significant positive the event for medicare but also because it would make it more solid the radically but also for the debt situation and? >> yes senator. that would be a significant improvement in the budget outlook. >> there has been a lot of fact taste talking that we could spend it somewhere else. it is supposed to be used for the debt. i want to clarify the fact there is no t.a.r.p money that it has to be borrowed? every set of t.a.r.p money is
if those dollars were used which were saved for medicare to shore up medicare and in some manner manner, in a medicare reserve fund to pay down debt, could you give us a thumbnail estimate how much that might help correct the structural problems that we have? >> i cannot do quantitative acquisition in my head by you're watching is correct that we estimated almost 500 billion in medicare savings over the 10 year projection point*. and over time if they not separately quantify. >> let...
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[applause] and where medicare itself is on a sounder financial footing. those are the things that we are fighting for. and i am not going to stop on them because it is the right thing to do and by the way, if you are serious about reducing our deficit and debt coming cannot accomplish it without reforming our health care system because that is what is gobbling up more federal dollars than anything else. i don't understand folks that say they don't want to see government spending under control and then are fighting controls at the congressional budget office says would cut a trillion dollars off our deficit over the next two decades. [applause] those aren't my numbers. now, we are never going to stop fighting to cut waste and abuse in washington. we do have to reign in death of his-- deficits that been accumulating. families across the country are tightening their belts and making tough decisions. it is time for the federal government to do the same and that is why i propose specific steps last night to bring the deficit down. and i am grateful that the se
[applause] and where medicare itself is on a sounder financial footing. those are the things that we are fighting for. and i am not going to stop on them because it is the right thing to do and by the way, if you are serious about reducing our deficit and debt coming cannot accomplish it without reforming our health care system because that is what is gobbling up more federal dollars than anything else. i don't understand folks that say they don't want to see government spending under control...
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that is the kind of reform we are proposing for medicare. [applause] >> as i said before, this is entirely a legitimate proposal. the problem is two-fold. one is that depending on how it is structured, if recipients are suddenly getting a plan that has the reimbursement rates going like this but health care costs are still going up like that, then over time, the way we are saving money is essentially by capping what they are getting relative to their costs. i just want to point out -- this brings me to my second problem. will made a very modest proposal as part of our package, our health care reform package, to eliminate the subsidies for medicare advantage, we were attacked across the board by many in your andaisle for slashing medicaid. we will start cutting benefits for seniors, that was the senior. -- the story. it scared the dickens out of a lot of seniors. look. here is my point. if the main question is going to be what do we do about medicare costs, any proposal that paul makes will be made actually from the perspective of those they
that is the kind of reform we are proposing for medicare. [applause] >> as i said before, this is entirely a legitimate proposal. the problem is two-fold. one is that depending on how it is structured, if recipients are suddenly getting a plan that has the reimbursement rates going like this but health care costs are still going up like that, then over time, the way we are saving money is essentially by capping what they are getting relative to their costs. i just want to point out --...
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social security and medicare? caller: we have to, absolutely. this is where term limits would be very effective. these politicians are now so beholden to their special interests that they cannot tackle those issues because they are afraid they will live get reelected. we have to give the president the line-item veto. i would like to have the president with just 16-year term as well. without term limits, we are putting it on congress. if they do not keep the budget within a certain ratio of the gross national product or whenever they have to do, they cannot run for reelection. just like state governments, they have to balance the budget and if they cannot, we will not re-elect them. host: we will leave it there. jack, in the pan and line. caller: i know the the washington culture needs to change, if you see a building burning you do not ask if we need to put it out. but a couple of comments about fair and balanced. c-span is great. i am wondering how people are talking about the lack of the merits here. what i would like to say is there was a cal
social security and medicare? caller: we have to, absolutely. this is where term limits would be very effective. these politicians are now so beholden to their special interests that they cannot tackle those issues because they are afraid they will live get reelected. we have to give the president the line-item veto. i would like to have the president with just 16-year term as well. without term limits, we are putting it on congress. if they do not keep the budget within a certain ratio of the...
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better approach that will bring down premiums, bring down the deficit, cover the uninsured, strengthen medicare for seniors and stop insurance company abuses, let me know. that is when i put my hand up because that is exactly what the republican health care proposal does. much more so than the proposal that he and democrat leaders are trying to shove down the throats of the american people. we are eager for the president to come to our retreat tomorrow. we are going to have an honest conversation about america's priorities and try to find ways to find common ground. the republicans have stood all year against their job killing agenda. republicans also have offered what i call better solutions. we're going to continue to go down the same path this year. we are going to look for common ground but we're not going to roll over on our principles. we are not going to vote for things that we believe that will hurt our country. at the same time, you will see us continue to work for better solution for the american people. as we go off to our retreat, republicans are going to work to develop better solu
better approach that will bring down premiums, bring down the deficit, cover the uninsured, strengthen medicare for seniors and stop insurance company abuses, let me know. that is when i put my hand up because that is exactly what the republican health care proposal does. much more so than the proposal that he and democrat leaders are trying to shove down the throats of the american people. we are eager for the president to come to our retreat tomorrow. we are going to have an honest...
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. >> but just look backward for medicare. [laughter] >> just for you, just for you. look, i think there was a moment in time where disney stock was $20 a share. because i ultimately i am a finance major. i start a little bit from the business perspective. obviously you have to love the strategic perspective. espn has been a terrific business. business channel, then done incredible things. family channel was once a really bad deal. now looks like a great channel. disney is firing wonderfully. we were right after 2001 theme park attendance was at a low. there was a shareholder revolt going on. there was the founding family say we want change. there was a vote coming up, and somehow, right or wrong, there was discussion between parties involved with both companies on a back channel basis that said, maybe now that you've done a at&t, you'd like to come in and put our two companies together. we openly throughout that idea. they said no thank you. and pretty quickly we said, we are not in the business to go in and completely disrupt and over pay and stock today's 30, up fr
. >> but just look backward for medicare. [laughter] >> just for you, just for you. look, i think there was a moment in time where disney stock was $20 a share. because i ultimately i am a finance major. i start a little bit from the business perspective. obviously you have to love the strategic perspective. espn has been a terrific business. business channel, then done incredible things. family channel was once a really bad deal. now looks like a great channel. disney is firing...
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if you're over 65, have diabetes and are on medicare, call now and we'll send you a free meter. it offers alternate site testing, so you can test on your arm. no more pricking your fingers. so it's less painful. it makes a big difference. and to make it even less painful, the cost of your diabetes testing supplies may be covered by medicare. join over a million others who have chosen liberty medical. call now and get your free meter. plus, for a limited time, get a free cookbook when you join. call the number on your screen. [ female announcer ] trying to be smart with the family budget? here goes the good old steam. [ pfffft! ] whooa!!!! [ female announcer ] let bounty help... because it cleans the mess with less than the bargain brands. it's thick and absorbent. and really durable. in lab tests bounty absorbs twice as much as the bargain brand. [ steam hisses ] why use more when you can use less? bring it. with bounty. the thick quicker picker-upper. and try bounty napkins. now with new prints. owwww.... (announcer) not just sinus headache... but pressure... and congestion.
if you're over 65, have diabetes and are on medicare, call now and we'll send you a free meter. it offers alternate site testing, so you can test on your arm. no more pricking your fingers. so it's less painful. it makes a big difference. and to make it even less painful, the cost of your diabetes testing supplies may be covered by medicare. join over a million others who have chosen liberty medical. call now and get your free meter. plus, for a limited time, get a free cookbook when you join....
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if those dollars were used, which were saved from medicare, to shore up medicare in some manner, a medicare reserve fund or something, that basically be paying down debt, could you give us a thumbnail estimate as to how much that might help correct the structural problems we have? >> i can't do a quantitative calculation in my head. but your logic is certainly correct, senator, that we estimated $500 billion in medicare savings over the ten-year projection period. and increasing amounts over time. that amount we have not separately quantified. >> let me try to combine the question. if you didn't use it to expand the government, but you used it instead to try to shore up the medicare system by reducing the debt, wouldn't that significantly, have a significant positive event for medicare, but also for, because it would make it more solvent theoretically. but also for the debt situation? >> yes, senator. if you use those same savings to pay down debt, that would be a significant improvement in the budget outlook. >> there has been a lot of talk about the fact that t.a.r.p. money is available t
if those dollars were used, which were saved from medicare, to shore up medicare in some manner, a medicare reserve fund or something, that basically be paying down debt, could you give us a thumbnail estimate as to how much that might help correct the structural problems we have? >> i can't do a quantitative calculation in my head. but your logic is certainly correct, senator, that we estimated $500 billion in medicare savings over the ten-year projection period. and increasing amounts...